Fiscal Responsibility Act to cap ceiling on debt - Ahmad

The government's move to better regulate its finances through the proposed Fiscal Responsibility Act (FRA) could see no further increase being allowed beyond the maximum debt ceiling of 65 percent of the national GDP for developmental expenditures, said Deputy Finance Minister Ahmad Maslan.

Speaking to reporters at Parliament lobby, the Pontian MP said the 65 per cent figure is currently in place and the proposed act will put a limit on further increases.

"Currently our total debt for development expenditures is at 60.4 percent of the GDP," said Ahmad, adding that the 65 percent rate had...